The U.S.-based multinational General Electric, which points to a 100-year record of involvement in Africa, is one of the companies participating in the Power Africa initiative, announced during President Obama’s Africa visit, designed to double access to electricity across sub Saharan Africa. GE is expanding operations in several places, perhaps most aggressively in Nigeria. Last year, GE and the Federal Government of Nigeria signed three Memorandum of Understanding agreements (MOUs) outlining cooperation in the energy, healthcare and rail transportation sectors. Ground-breaking for a U.S.$250 million manufacturing facility in the port city of Calabar took place two weeks ago. Lazarus Angbazo, President and CEO of GE Nigeria, discussed the company’s growth strategy in an interview with Reed Kramer in Abuja last month. Excerpts:
Why has GE decided to enlarge operations in Nigeria?
This is a country where the GE portfolio – the full GE portfolio – fits perfectly in terms of the need of the country and the capabilities of the country.
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